Exit Coach Radio

We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com. See the Index for more on this Topic or by this Guest.   Transcript:    Kim: Women have a stronger tendency to go into a service based business than a product based business. The reason for that is because it usually doesn't require much, and start up cost to start a service based business, obviously, if I want to teach piano lessons, I could just pass out flyers, you know $10 at Kinko's, and voila, I have two clients. But the problem with that is, it's not scalable on training time per dollars, I can't grow that business beyond my own time. So, the solution to that is, either go to a product based business, which will require more start up cost, obviously if I'm going to manufacture pianos, I'm going to have to get a big loan or get an investment, and then I can scale that business as much as I want to scale it. Or, if you have a service based business like I do, be willing to scale it, and that means be willing to understand that you are

Host: Bill Black.  Minda Wilson discusses health care legislation and its effects on small businesses and their employees.  Transcript:  Bill: There are some health care penalties coming up for 2015, what will they be and how will they effect small businesses? Minda: Starting after the first of the year, if you have more than 50 full time equivalent employees, 50 or more, you're going to have to offer insurance to your employees. And the thing that most small businesses don't realize is that that means full time equivalent is calculated by adding up all the hours that your part time people work. And generally I advise people if you're 49, 48, you probably still should look into providing insurance because they do count overtime.  Audio library: www.ExitCoachRadio.com. Be Sure to Visit Our Advisor List! To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Host: Bill Black Audio Library: www.ExitCoachRadio.com Chris Hill discusses decisions that have to be made after the worst happens, and how you make the difficult process easier.    Transcript:    Chris: When somebody passes, there are about 150 decisions that need to be made within a 24 to 48 hour period, and there is no guide, there is no funeral director that takes you through all this stuff. There are so many things surrounding that, I don't even have enough time in an hour to tell you what they are. But, you have all these decisions to make, and at the same time, you've lost your spouse. And think about this, you've lost two things, you've lost their companionship and their income. Now, by companionship, I mean everything you did in your life, you did with that person, every decision you made. Now, you're own your own, and you've got a decision to make where you don't know what they wanted, how they wanted it, they're not with you to help guide you.  To hear more tips from over 750 Advisors, visit exit

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! Transcript:  Larry: Purchasing insurance: so often that a CEO of an organization or the CFO of an organization, the biggest mistake they make is they go ahead and they focus on the cost of it. So that, kind of going back to what's the process? You know, first you're doing an organizational analysis or operational analysis, then you do a coverage analysis of the current programs, and then the third step is to write an insurance spec. Okay, so that's spelling out what insurance that we need and how it needs to be structured, and then going out to market and getting quotes based on that. Limits of insurance mean absolutely nothing, what's critical is the details that are within those policies. So if you have an insurance spec of what everything is supposed to be covered, how it's supposed to be covered

Here's a 1 minute highlight from an interview with one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to sell all of their interviews! Transcript:  Gail: You know, if you document your procedures before selling your company, or before a key employee leaves, the documentation ensures that employees follow best practices no matter who does the tasks. If you do it right it provides that detailed step-by-step of how and why a task is performed. The other thing we like a company to do, is we know that the big picture is easy to see if you have process work flows. You can spot inefficiencies and areas that need improvement immediately. I recommend that all private companies should create workflows of their processes, their procedures, and their tasks. I also mentioned we do some consulting, and since we are spending time with our clients to learn that inner working of the company, we're gonna offer you a fresh persp

Richard provides financial planning advice, particularly to Baby Boomers considering a transition out of the business world. Questions Answered:  1) Why do you believe it is important to redefine retirement?  2) What do you believe is a better path for those about to retire or transition out of business? 3) How do you help these people who are considering a sale of their business or retiring? Contact Info:  Website: richardwardwealthadvisory.com Email: richardwardcfp@gmail.com Bonus Material:  "Redefining Retirement: Finding Purpose and Passion in Your Second Half" is available on Amazon Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Larry Bell discusses group term life insurance, and the benefits of turning it into a tax planning tool.  Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews!   Transcript:    Bill: A lot of people think group term life insurance is just a throw away benefit that your offer for employees. Here, you come off and say, "wait a minute, that could be an incredible, tax beneficial planning tool?"   Larry: So, today, we want to talk about a time tested approach using group term life insurance, a section 79 plan, to provide benefits for your employees, but also have a small group of those special employees that you want to handle differently, for just the owner themselves. And, we can set this up, and we don't have to fund it until the following October 15th of the year that we're getting the deduction for and that we're funding for the selected employees. 

Elizabeth Ledoux is the CEO and Founder of vNacelle, a business focused on Transition Roadmaps and how they can help business owners.  Questions Answered:  1) What are the top 3 challenges that a private business owner faces as they think about transitioning out of their business?  2) What new skills or shifts in behavior does an owner need to focus on or master when navigating their transition?  3) What is a Transition Roadmap and how does it create success for an owner as they move toward a transition? Contact Info:  Website: www.myBVA.com  Email: elizabeth@vNacelle.com Bonus Material:  Visit www.myBVA.com and take our free assessment to find out where you are in the Entrepreneurial Flight®.* 2 books available on AmazonAccelerate Your Entrepreneurial FlightBy: Melvin J. Wernimont, PHD and ElizabethandUnderstanding the Growth of the EntrepreneurBy: Melvin J. Wernimont, PHD and Elizabeth   Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 4

T. Phillip Boggess of TPB Financial discusses the critical first steps of planning. We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com . See the Index for more on this Topic or by this Guest . Host: Bill Black, The Exit Coach Radio Show - the Information Station for age 50+ business owners.  Transcript:  Bill: What's the first step in planning? Here's T. Phillip Boggess T: The first thing for everybody, whatever you're doing, is you need to get started. The plan isn't worth the paper it's written on, unless you take steps to move toward your goals and take the action steps you had in there. The reality is, the earlier you get started on most of these things, the more options you have, the more likely you are to be able to accomplish what you're trying to accomplish. And the second part is, your plan has to be flexible, and you have to review it to make sure over time that it's still performing the way you want it to, because things change, you know, whether it's laws, taxes, economic envi

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! Rhett Bray of BeaconPath discusses how employers can use the services of a Broker to contain medical insurance costs. Transcript:  Bill: Medical insurance is a big part of your budget. How do you contain those costs? We ask medial expert, Rhett Bray.  Rhett: We'll talk about wellnesses, how we can start to communicate the importance of wellness, and that we give the people and the employers the opportunities to do things that will help them to become healthier. We start to educate them on the importance of annual physicals, we start to educate them on preventative care. Women do this quite well, men have the tendency to wait until body parts don't work, and then they go, which can be late. And it's interesting, we take better care of our car, we change the oil, we see the lamplight come on, and fo

Jeff Pallister helps business owners accelerate growth by making significant improvements to operations. Questions Answered:  1. What are the biggest challenges in improving operations? 2. What difference will it make? 3. What is required in time and money? Contact Info:  Website: www.improvementprograms.com  Email: jeffpallister@gmail.com  Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Host: Bill Black.  Jonathan Zucker discusses how to make your business attractive and sell it appropriately in the marketplace.  Audio library: www.ExitCoachRadio.com. Be Sure to Visit Our Advisor List! Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Dr. Jerry Kornfeld wants to talk about an experience he recently had with a patient and the exciting things happening in medicine today. He will discuss erectile dysfunction and the effects of the current medication we have today, what effect positive thoughts have on a patient, and the role of positive doctor's words. Contact Info:  Website: www.askdoctorjerry.com  Email: kjbkorn@aol.com  Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Host: Bill Black.  Marc Koehler discusses health care legislation and its effects on small businesses and their employees.  Audio library: www.ExitCoachRadio.com. Be Sure to Visit Our Advisor List! Transcript:  Marc: I think the most successful companies are the ones that manage change the fastest. And so if you can manage change the fastest, you're gonna win. It's no longer good enough for the CEO to have a command and control style. Everybody has to be engaged and deliver on the brand purpose. And it's so satisfying when you as a team leader can put a challenge out to your entire team and have them help you to manage change and really drive success.  To hear more tips from over 750 Advisors, visit exitcoachradio.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Lynn Taylor is the president and CEO of Taylor Protocols. He works with businesses to ensure that everyone is in the right seat doing the right work.  Questions Answered:  1. What is unique about the CVI? 2. How is the CVI being used? 3. Why did you create the CVI? 4. What is your vision for the future with the CVI? Contact Info:  Website: https://taylorprotocols.com/  Email: lynn@taylorprotocols.com  Bonus Material:  Go to www.TaylorProtocols.com any time today, click on the big green button that says Take Your FREE CVI. It takes less than 10 minutes. Everyone who takes the CVI today will be upgraded for free to the full, comprehensive report. Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com .   Transcript: Don: There is somehow this aversion to the terminology of being viewed to be planning an exit. I have taken to characterize the process that I go through as endurance. I really have done it that way because what I do is try to help business owners prepare by building endurance across three distinct areas. And one is endurance for their businesses so that it can be sustainable after they’re gone, and we know that that’s one of the very important critical factors that a prospective buyer looks at. Two is establishing endurance for their personal wealth so that the after tax proceeds for their eventual transfer is enhanced and endured for family. And three is confirming the endurance of their personal performance. For

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! Transcript: Bill: You might be missing out on huge opportunities to get new business from existing customers. Here’s Tammy DeLeeuw: Tammy: Where business owners really fail, after talking to hundreds of them, is they don’t think about their own database first. How do I get the people that already love me, that already trust me, that already think that I am the cream cheese of life, how do I get those people to go and tell their friends, their neighbors, and their relatives, without seeming like I’m begging? Database marketing, finding new ways to engage them…that could be with videos, they bought a widget from you, maybe they need parts for that, maybe they need to come in and bring it back and have you maintain it, you send little videos out that will help them remember to come back and see you, or

Pat’s focus is on serving the needs of retirees and pre-retirees, he offers conservative strategies that seek to minimize risk to principal while maximizing income. His process helps each client understand how much risk is appropriate in determining the optimal asset allocation for them. Questions Asked:    1. Is retiring early simply a case of money, or are there other factors? 2. How does healthcare factor in a decision to retire early? 3. What kind of portfolio do I need to retire early?   Contact Info:    Website: http://www.harvestfg.com Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here

Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews! We upload new content daily, so check back often! Transcript: Bill: What does the future for business sales look like? We asked expert Heath Frantzen: Heath: It’s a buyer’s market for the next 20 years. The Baby Boomer generation in this country has approximately 225,000 business owners turning 65 each year, looking for an exit. The problem is, is that there’s only about 24,000 sales each year, and 3 out of 4 of those are failures, so you’ve got a 3% chance, and only the most profitable businesses with the most flexible seller’s are gonna be sold successfully. And know that astute buyer’s have lots of choices, so you’ve gotta do the things that it takes to give yourself a fighting chance against your competition. Spend some time understanding that the professional buyer’s buy investments, and the dif

Host: Bill Black Audio Library: www.ExitCoachRadio.com  Dara Maleki discusses how to build a nationwide brand and to take a local concept to the next level with his franchise program.    Listeners: You asked, so we found FREE solutions for 5 of your top problem areas. Text “TOOLBELT” to 44222 or click here